HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0055%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h −0.014%

Price spread now: GMX against Hyperliquid−0.076%7-day average −0.037% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.076%, 7d avg −0.037%

Together, before fees+0.089%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.037%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.011% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	95.165	0.0100	pay 0.0013% / 1h	12m 46s	$2.10B	$679.7M	10x
Short	GMX HYPE/USD [WBTC.b-USDC]	95.092	L +0.0330% / S −0.0155%	get 0.0019% / 1h	12m 46s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee GMXbpOrdersPrice spread, now −0.076%Rate

Funding earned: $11.64
Price spread: −0.076% → −0.037%: −$3.88
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$13.23
Costs to cover: 0.210%
Break-even: 15.0 days

Slippage unknown: Hyperliquid: live order book, 11 min ago; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 11 min ago	0.11 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0832%	1h	95.006	−0.167%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0543%	1h	94.976	−0.199%	$79K	$149K	20x	as long as short
Phemex HYPEUSDT	−0.0240%	8h	95.055	−0.116%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0239%	1h	95.082	−0.087%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0207%	1h	95.037	−0.135%	$113K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0141%	1h	95.000	−0.173%	$705K	$1.3M	10x	as long as short
dYdX HYPE-USD	−0.0125%	1h	95.078	−0.091%	$130K	$93K	5x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.014	−0.159%	$1.0M	$3.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	95.064	−0.106%	$90K	$352K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.069	−0.101%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.013	−0.160%	$18.9M	$35.7M	50x	as long as short
Bybit HYPEUSDT	−0.0014%	8h	95.010	−0.163%	$319.2M	$287.2M	75x	as long as short
Gate HYPE_USDT	−0.0008%	4h	94.999	−0.174%	$52.7M	$56.7M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	95.001	−0.172%	$147K	$670K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.123	−0.044%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.045	−0.126%	$19K	$273K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.045	−0.126%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.142	−0.024%	$212K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.060	−0.110%	$4.7M	$5.8M	50x	as long as short
Vest HYPE-PERP	+0.0019%	1h	95.131	−0.035%	—	$126K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0035%	8h	94.997	−0.177%	$118.4M	$322.7M	50x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	95.011	−0.162%	$228.3M	$94.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0047%	8h	95.020	−0.152%	$340K	$38K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0057%	1h	94.988	−0.186%	$7.6M	$10.1M	20x	as long as short
Aster HYPEUSDT	+0.0091%	4h	94.999	−0.174%	$9.0M	$36.5M	300x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	95.053	−0.118%	$5.1M	$31.1M	30x	as long as short
SoDEX HYPE-USD	+0.0095%	1h	95.018	−0.154%	$2.1M	$1.9M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.022	−0.151%	$16.3M	$63.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.019	−0.153%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.044	−0.127%	$150K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.040	−0.131%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.035	−0.137%	$5.6M	$52.7M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	95.165	long leg	$2.10B	$679.7M	10x
Pacifica HYPE	+0.0100%	1h	95.052	−0.119%	$10.3M	$14.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.016	−0.157%	$382.5M	$912.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.126	−0.040%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.015	−0.158%	$98.1M	$89.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.021	−0.151%	$47.4M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.002	−0.171%	—	$52.4M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.091	−0.078%	$29.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.088	−0.081%	$7.7M	$44.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.029	−0.143%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.098	−0.070%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.041	−0.130%	$500K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.990	−0.184%	$33K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.176	+0.012%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.971	−0.204%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.039	−0.132%	$402K	$136K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0108%	1h	95.097	−0.071%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.079	−0.090%	$3.1M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.380	+0.226%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.013	−0.160%	$85K	$93K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0330% / S −0.0155%	1h	95.092	−0.076%	$1.4M	—	100x
BloFin HYPE-USDT	+0.0340%	4h	95.015	−0.158%	$17.2M	$12.3M	75x	as long as short